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deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we've seen signs of this progress over the last several weeks. home prices continue to climb. car sales are at a five-year high. manufacturing has been strong. and we've created more than six million jobs in the last 35 months. but we've also seen the effects that political dysfunction can have on our economic progress. the drawn-out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already started to affect business decisions. so we've been reminded that while it's critical for us to cut wasteful spending, we can't just cut our way to prosperity. deep, indiscriminate cuts to things like education and training, energy and national security will cost us jobs, and it will slow down our recovery. it's not the right thing to do for the economy. it's not the right thing for folks who are out there still lo
the real question here is, how do we reduce our deficits in a way that does not hurt the economy right now, but does make sure that as the economy improves that public spending is not -- and deficit spending is not squeeze the out by private investment. for the last couple years the problem has been opposite. we have seen less private investment, so the moneys the federal government has spent have been very important to helping the economy from going into free fall. . there is no doubt that we have to deal with the balanced approach and that's where the debate lies in how we should do that. again, our republican colleagues have said no to the balanced approach. they said no to the plan that we offered to prevent the sequester. they wouldn't allow a vote on the plan we offered to prevent the sequester that's going to hit on march 1 and which our republican colleagues in statement after statement on this floor have said is going to hurt the economy and which we know from the last quarter's economic report is already hurting the economy just because businesses are anticipating the possibility
, and in terms of the sequester, i agree with the last guest. in many ways between the fed and the deficit spending on the deficit level, even though it's going to be smaller this year, it's hard to beat, that so i think the sequester, where we really demonstrate that the growth in many ways is paid for because when you stop it's going to take away jobs, those kind of black reality swans will be the issue for the market ahead. >> brian gendron, where are you on this and how do you want to be invested? >> we don't think this rally is over entirely. if you extrapolate a 5% or 6% return we've had so far this year, we'll have one of the greatest stock markets of all time in the face of, you know, good earnings but not great earnings, in the face of still slow growth. i think that's a little unrealistic so we'll probably get a little bit of a pullback, unusual if we didn't. still recommending a substantial allocation to equities. this year looks like last year, political uncertainty. last year was a good year for stocks. as for stocks versus bonds, i've been thinking it was the end of a 30-year
melissa francis. lori: i am lori rothman. we will learn how hi our deficits could rise. melissa: we will hear from the president in just a couple minutes. we will bring you the remarks live. lori: immigration reform also on the top earner today. we will hear from business leaders on how reform should be done. lou dobbs weighs in. melissa: our very own charlie gasparino goes one-on-one with municipal analyst. that should be very interesting. lori: let's get things started with the latest addition of stocks now. the 20 you see volatility here. the fix is to the downside today on a day where we are gaining triple digits, unlike yesterday where we love triple digits. the majority of the dow components are in the green. we have economic numbers showing expanding numbers in the u.s. service. we will take a look at a longer term chart. back to you. lori: thank you, as always. melissa: breaking news. the budget office releasing the latest numbers. what we can expect our deficit to be. rich: $845 billion for this year. this is the first time in five years. let's take a look at the next ten y
to face and i think much more important is the very large, long run deficit that a thing all of us want our policymakers to come together and address how we're going to do with it. i think that's unfortunate will have to be front and center in the next year coming up with that. i sure hope it is. >> let's see, i think first thing just to mind ourselves out is that the impact of it president on the short-term macro economy is almost always exaggerated. presidents can have a big impact on the economy in the medium term and long run, largely -- and while the fed has cut aid to help they can should have a much bigger short-term effect, we immediately looked to the white house and said what are you going to be about the economy right now? dr. romer and i would have to go on tv and there is points and talk about the job supports and what would happen over the course of the next month and the thing that is so frustrating note in fact not much that you were doing action has a direct result what will happen over the course of the next month. i think it is interesting how the debate has shifted.
we are projected to the a big deficit below one of a trillion for the first time in five years. later, the mayor of san antonio and justified -- testifies on capitol hill about immigration policy. some of the automatic spending cuts delayed in december are scheduled to take effect next month. on the next "washington journal," we will talk about those cuts and program such as medicare and social security. severna, 40 5:00 a.m. eastern. our guest is from texas, and at 8:0020, a democratic congressman, henry waxman, of california, on efforts to combat climate change. your phone calls and tweeds, "washington journal," 7:00 a.m. on c-span. president obama announced his plan to avoid automatic spending cuts known as sequestration scheduled to begin march 1. it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recove
, the driving passion for mr. boehner in these fiscal debates is his conviction that trillion deficits are sapping the country of its energy and prosperity. trillion deficits, his driving passion. everybody loves john boehner's passion. but this is supposedly what he feels so passionate about. this is a chart of the country's budget deficit levels every year. red bars are president bush's deficits from 2008 and 2009. blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brains
the deficit will grow the economy. they quantified that, it will really happen. look a chart showing three different scenarios that could happen. if we add to the deficit we'll see a bump in gross national product in the short-term but the economy could take a major hit in the long run. if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make the case we should cut spending short term to help our children down the road or ourselves depending how long you are, people poo-poo that is not like real math s that real math we saw on the bar charts? >> that is real math and the second example of that real math is what the cbo put out which says, suppose you do nothing
of the administration, the deficit tripled, the previous record high deficit in this country, to $1.4 trillion. $1.3 trillion in f.y. 2010. $1.3 trillion in 2011, $1.2 trillion in f.y. 2012. and, mr. speaker, there's no plan that the administration has produced to get us from where we are, fiscal irresponsibility, to a point in the future of fiscal responsibility. mr. speaker, we've been doing our part here in the house, we've been proud to work together across the aisle in order to pass budgets that tackle those hard challenges that are ahead of us. if you go and read the president's comments, mr. speaker, you'll see that he recognized the challenges are hard. the question is, are we going to deal with those or not? i hold here, mr. speaker, a speech that the president made to the democratic national convention on september 6, 2012. where he said this, i will use the money that we're no longer spending on war to pay down our debt and put more people back to work. and my notes here said it was followed by extended cheers and applause. i suspect my friend from massachusetts supports that spirit who
" is next. host: the federal deficit is expected to dip below one trillion. the news comes as republicans and democrats face a march 1 deadline to avoid billions in across-the-board spending cuts. the pentagon announced it will offer benefits to same-sex couples. in the senate is wrapping up work on the violence against women act. and the house will vote on a bill requiring the president to offer a plan to balance the federal budget in 10 years. good morning. we begin with your take on the leaked white paper from the white house just fine drone strikes on u.s. citizens overseas. nbc news reported on the memo monday night and it has gotten lots of reaction in washington. what are your thoughts? call -- we want to get your thoughts on social media as well on twitter or facebook. or send us an e-mail. we will get your thoughts in a moment. first, josh gerstein is joining us on the phone. here's your headline -- what was this memo? guest: this is a white paper that looks like it was derived from some confidential legal opinions that the opinions -- opinions that the justice department wrote t
money to reduce the deficit and will likely focus on a familiar target. white house correspondent wendell goaler tells us how that is going over. >> as the president headed to minnesota to talk about gun violence, republicans on capitol hill tried to keep the nation's attention on fiscal matters. >> we are having trouble in large part because spending is a problem. it is what is chasing jobs overseas and causing much anxiety about our future. >> sunday in a presuper bowl interview with cbs's scott kelly mr. obama said this year's changes shouldn't be the last. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down the deficit. he is not talking raising rates but closing loopholes especially those making money from investment pay a lower tax rate than income salaried or hourly wage earn ers. >> the average person doesn't have access to cayman island reports. they don't have access to interest income where they pay a much lower rate on billions of dollars they have earned. >> mr. obama says the only way to continue investing in
economy back to work and create jobs, jobs, jobs. that's what this is about. our deficit has been coming down and the patient approach is to recognize that we actually have time. we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther a
to the well again. the president insists he needs more money to reduce the deficit and will likely focus on a familiar target. white house correspondent wendell goaler tells us how that is going over. >> as the president headed to minnesota to talk about gun violence, republicans on capitol hill tried to keep the nation's attention on fiscal matters. >> we are having trouble in large part because spending is a problem. it is what is chasing jobs overseas and causing much anxiety about our future. >> sunday in a presuper bowl interview with cbs's scott kelly mr. obama said this year's tax changes shouldn't be the last. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down the deficit. he is not talking raising rates but closing loopholes especially those making money from investment pay a lower tax rate than income salaried or hourly wage earn ers. >> the average person doesn't have access to cayman island reports. they don't have access to interest income where they pay a much lower rate on billions of dollars they have earned. >> m
will be gradual. and on the downside we have thrown a lot of roadblocks in its path. we have a debt and deficit situation which in the long term are unsustainable, and we're doing absolutely nothing to correct that. nothing. i know cbo's forecast was that we would see modest improvement in the jet crashing into debt-to-gdp ratio the next two years but i don't believe the. i don't like their forecast. i do with 4% growth is going to venture lies with the 0% increase in the interest rate. just don't see it happening. if you get when you're going to get the other one taking up and that will be very, very difficult to maintain a stable or declining debt-to-gdp ratio. but even cbo has a debt-to-gdp ratio picking up at the end of the 10 year horizon. so we have to stabilize the debt. we haven't fixed the debt. and, in fact, we spread the crisis out so that we really won't go a month without one. we have the fiscal cliff at the end of the year. nothing was done in the later part of the year. and then in the 11th hour, actually it wasn't the 11th hour. it was about the 15th hour, two and half hours aft
coming into the u.s. and more made in america products shipped overseas, the u.s. trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but that success was
deficit for a second straight month in december, that is the first time since 1985 that the current account balance turned to the red for two consecutive months. finance ministry officials say the current account deficit for december about $2.8 billion. the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year in yen terms. as a result, the current account surplus for the entire year of 2012 turned out to be the smallest based on comparable data available since 1985 the surplus fell 50.8% from the previous year to $50.2 billion. >>> and across oceans the president of the european central bank expects the region's weakness to prevail for sometime. policymakers at the bank decided to keep the key interest rate unchanged. it's at record low level to support europe's ailing economy. the members of the central bank decided the rate should be maintained at 0.75% for a seventh month in a row. european central bank president draghi said the decision is essential to support the region's economic activity which remain
revenue is needed to bring down the deficit but believes it can be done without another tax hike. speaking to cbs news anchor scott pelley yesterday, the president said the u.s. can reduce its deficit by closing tax loopholes and making what he calls smart budget reductions. >> if you combine those things together, then we cannot only reduce our deficit, but we can continue to invest in things like education and research and development that are going to help us grow. >> well, today the president travels to minneapolis where he'll push for proposals to gun control durs his visit. susan mcginnis is in washington. good morning. >> good morning. this will be the president's first trip outside washington to push his gun proposalproposals. he's pushing for a big rally in support of this. in the meantime the senators are said to be preparing their own legislation very similar to the president's employee posal but conspicuously absent is the assault weapons ban. he takes his pitch for gun safety to minneapolis today. he wants congress to require universal background checks, limit how many bullets
's transparent and that we're reducing our deficit in a way that doesn't hamper growth. >> reporter: the response from house speaker john boehner's office? the president got his revenue, now it's finally time to make the reforms necessary to save our entitlement programs. any tax loopholes we close should be used to lower rates for all taxpayers so we can be more competitive and create or more jobs. automatic spending cuts hit the federal budget march 1st. less than four weeks later, a large portion of federal spending authority expires. if democrats and republicans fail to resolve these tax and spending differences, the government is headed for those across the board spending cuts and a government shutdown. back to you. connell: rich, thank you very much. rich edson in d.c. dagen: let's bring in david stockman, former economic adviser to president ronald reagan. there's no urgency though. if we don't do something about our annual budget deficits and our longer term debt that we're accumulating, is it just going to be kind of a slow drip like where we bleed to death as a nation, where we don't re
that we need higher fuel tax, and we can use that either to reduce the deficit or to pay for something else. it was designed -- or intended -- whether it has done so successfully or not, it was done to pay for infrastructure. >> absolutely. we are not real happy about that. >> john, what are you hoping for next week? >> for some reason, i have not been consulted on that. the president in the campaign said he was 4 and all of the above energy policy, so let's have some announcements that support that -- he was for an " all of the above" energy policy. let's move forward with the things that you need to do to accomplish that policy. i would say that we would also -- i would like to see stop this discussion about taxing the industry and trying to characterize it as subsidies, which is simply not true, and i would like to see more opportunities in terms of where we can open up areas that are off-limits right now. all those combined can generate an enormous amount of opportunity for the economy right when we need it. >> i will just mention a couple of things. i think lenders have been reall
advising, we can replace the sequester with a smarter strategy that is a more gradual deficit reduction plan. he's going disagree with the republicans on how to do that. he's going to want revenue to be part of it. republicans will say no thank you. >> we'll get the president if a minute and a half. white house gave us a two-minute warning. i would say it's a short-term for the president and the congress not doing what they're supposed to do pass a budget every year. the president set up the sequester, a fiscal negotiations -- >> this is not a natural disaster. >> it's not a natural disaster. >> man-made. >> many ways the president's late submitting his own budget but coming to the podium because though he's part of the mess he thinks he has the upper hand. >> right. i'm having a world is upside down moment. when you talk to house republicans they say to you, you know what? this may be the best budget cuts we can get. let the sequester take effect, even if it cuts the military, the secretary and defense, leon panetta saying that would be shameful. but you have a lot of house republicans
are in for a massive and unsustainable increasing deficit if we don't get a handle on entitlements. good morning. glad to have you with us. gregg: the cbo is saying it deficit will go down to $840 billion. that's the first time it will drop a trillion dollars under president obama. martha: but with baby boomers retiring at the rate of 10,000 people a day. entitlement spending is set to explode. stuart, as we pointed out, there is a lot of enthusiasm that we won't rack up a trillion dollar deficit. >> reporter: the headline was all about the deficit is going to be below a trillion dollars. that's great news. the bad news and there is a lot of it. the next 10 years medicare will cost $1 trillion a year. obama-care subsidies will total nearly a trillion dollars. the cost of medicaid will double and the debt will go to the highest portion of tour economy than it's been in a generation. there is dismal views on the current state of the economy. 1.4% growth this year and the unemployment rate will rise at 8% and stay that way for years to come. martha: the cbo makes very clear we need to do some entitlement
the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that federal spending cuts will go into effect march 1st says the government will run a deficit of $845 billion this year compared to last year's $1.1 trillion shortfall. but the cbo's ten-year outlook predicts those improvements will not last. it warns that an aging population will drive up entitlement spending and rising interest rates will put the debt at unsustainable levels. if current laws remain in place, debt by 2023 only ten years from now will equal 77% of gdp. that's roughly double the 39% average seen over the past 40 years. >>> and president obama is asking lawmakers to take quick action as a march 1st deadline approaches that will trigger deep spending cuts. "the new york times" writes this morning that "mr. obama, who missed a deadline this week to submit his annual budget to congress, acknowledged on tuesday that a broader deficit agreement is unlikely to be reached by the march deadline. he provided no details about the t
that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90s, they have to say, what happened after
the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75 year time frame we talk about budgets. the american people need to know t
apiece saying how the trust deficit is hurting the economy. what are you trying to say about that? guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious
a budget deficit, failing infrastructure as well as health care and pension benefits accounts for $1.30 billion of the potential shortfall. >> if we act now we cabn teens the trajectory. >> the mayor highlights of your key themes for cuts including identifying strategies to align recurring revenues, reducing property and income taxes, addressing infrastructure, and addressing the city's long-term liabilities. the mayor says she will get more specific about what cuts will be made during her state of the city address next week. if you'd like to take a closer look at our report, you can go to our website, wbaltv.com. >> president obama is hoping to get more democrats to support his second term plans. a push that came through annapolis today. he addressed senate democrats at a closed-door retreat. he delivered a preview of next week's state of the union speech in hopes of getting more lawmakers to back his efforts to reform medicare and immigration as well as his budget plans and assault weapons ban. today we learned florida senator marco rubio will deliver the republican response to the
the conversation so that suddenly we'd be worried about the deficit instead of worried about wall street. this consumer financial bureau, the protection bureau, set up under elizabeth warpen, this focus on regulating banks the reality that we had been raided by wall street, that all of that got turned around so that instead, it somehow became a govpt deficit problem when it was never that. >> and it was that deregulation that caused us to have a problem. and dana, if we go back, because a lot of people forget where we came from and how we were able to overcome some insurmountable odds to get where we are today even though we have a long way to go. if you go back to when president obama came into aufsz office, 2009, on the eve of february 2009 jobs report, which turned out to be the worst in 34 years, the president called for action on the stimulus package. let me show you what the president said. >> the time for talk is over. the time for action is now. because we know that if we do not act, a bad situation will become dramatically worse. and i refuse to let that happen. we can't delay a
take effect if there is no long-term agreement to reduce the deficit. those cuts would take a bite out of military spending and domestic programs, including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> they are coming to california because this is where it is. he is not going to lubbock or wherever the places are that make up that state. >> those other places. [ laughter ] >> governor brown takes aim at texas. why he is going toe to toe with the lone star state. >> it's cleanout time. the 49ers report one more time to empty their lockers. coach harbaugh's final thoughts on the season. >> good evening to you, meteorologist paul deanno. we could use some rain around here. we really need snow in the mountains. the snowpack is dropping. we are now down to 83%. there is no rain coming from those clouds right there. but there is some rain in the extended forecast. find out when it will arrive coming up. >> and potent mixer. the reason diet soda and alcohol make for a more dangerous concoction. k-p-i-x 5's len ramirez t
the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama important to the nation. >> hour house majority will
budget $850 billion will be the deficit and we looked at the charts. people will argue, probably the man here, that it's going to be down in the long term because of increased revenues, economic growth, sequester, higher taxes. but kimberly, if you look to 2013, it shoots back up. how can the president hold a press conference when he talks about cuts using the word smaller. >> there's so much shrinkage. the problem is the middle class is the working poor. that's what's the norm. people are so used to it now they don't realize it should be fixed. we could focus on cutting back on spending, thinking about how to stimulate jobs and the economy. we're so used to the stagnation, it's become acceptable and people aren't critical enough to say there's a better way to do this and a smarter financial way to make sense. >> is this the new normal? before we get to that, the white house scrambled after the cbo announcement to cobble the press conference together. what did you think? >> one of the things, if ear going to call press conferences, he has to take questions. if he goes to the white house
with details of this. and, linda, we hear about cities reporting deficits and surpluses all the time, but this isn't very good, is it? >>reporter: not good at all this. report is due out today. it shows that baltimore is on the road to financial ruin and if drastic measures are not taken, the city will go bankrupt. the associated press obtained the 10-year financial forecast ahead of its release to the public today. it shows the city will accumulate a $745 million budget deficit over the next decade because of a growing gap in how much the city earns and the amount it spends. that deficit would be even bigger at $2 billion if you factor in what the city needs for infrastructure repairs and retiree healthcare benefits. according to the report, if the city does not enact major reforms it, will go bankrupt. the 10-year forecast was commissioned by the city from an outside firm. mayor rawlings blake is expected to propose financial reforms next week based on the report. linda stow, abc 2 news. >>> president obama will be in annapolis. he's going to talk strategy with u.s. senate democr
about deficits, we are buying in to the right wing mantra somehow deficits are killing the economy. look at great britain and doing with their austerity plans and doesn't add up. i'm much more of the mind to be proactively looking at infrastructure investment like many of the business advisers told president obama should happen. people from commerce, from industry. i get it. that won't happen as long as house republicans are dead set against it. and what we're left with is unfortunately in my view a detente to put the discussion in the frame the republicans want. what about deficits? we have a jobs crisis in this country. not a deficit crisis. to me, the whole conversation has been pushed to the right further than it should be. >> and karen, on a last note, in anticipation of the president's speech, the white house released numbers on the people affected by the cuts. i believe around 600,000, between 600,000 and 800,000 suffering as a result of cuts to food stamps and other program that is people need to survive these days and at least some of the analysis out there, democrats feel that
Search Results 0 to 49 of about 310 (some duplicates have been removed)